PRESS RELEASE ANNOUNCING A PROPOSED TAX INCREASE

The City of Reynolds City Council today announces its intention to increase the 2018 property taxes it will levy this year by 69.41 percentage over the rollback millage rate. Each year, the board of tax assessors is required to review the assessed value for property tax purposes of taxable property in the county. When the trend of prices on properties that have recently sold in the county indicate that there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value of such property and adjust the assessment. This is called a reassessment. When the total digest of taxable property is prepared, Georgia law requires that a rollback millage rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred. The budget tentatively adopted by the City of Reynolds City Council requires that a millage rate higher than the rollback millage rate, therefore, before the City of Reynolds City Council may finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase. All concerned citizens are invited to the public hearings on this tax increase to be held on September 13, 2018 at 11:00 AM and 6:00 PM at the Flint EMC Auditorium Building, 3 Macon St., Reynolds, Georgia and on September 20, 2018 at 11:00 AM at the Train Depot.


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